Your first home in Frisco: the programs, the math, the steps

Forgivable loans of up to $10,000 for down payment and closing costs, but only for households where at least one adult has worked full time for the City of Frisco or Frisco ISD for six months or more. Household income may not exceed $150,212, the maximum sale price is $563,500, buyers must be first-time buyers with some exceptions, and an 8 hour HUD-approved class plus a one hour counseling session are required. Applications go through the city's online portal.

The Texas State Affordable Housing Corporation offers down payment and closing cost help of up to 5% of the loan amount, as a grant, a deferred forgivable second lien forgiven after three years, or a deferred repayable second lien. You do not have to be a first-time buyer. In July 2026 TSAHC raised its income limits; for the Dallas metro the limit is $181,650 for Home Sweet Texas and $205,870 for Homes for Texas Heroes (teachers, police, firefighters, EMS, corrections officers and veterans). Its eligibility quiz shows county limits and participating lenders.

The Texas Department of Housing and Community Affairs offers up to 5% down payment assistance with FHA, VA or USDA loans for buyers who have not owned a primary residence in the past three years (exceptions apply for veterans and targeted areas). Minimum credit score 620, maximum debt-to-income 50%, and an approved homebuyer education course is required. A TDHCA flyer effective May 27, 2025 listed Collin County based income limits of $117,300 for 1 to 2 people and $134,895 for 3 or more, and a purchase price limit of $585,006 outside targeted areas. Confirm current limits with a participating lender.

The same up to 5% assistance without the first-time buyer requirement, and it also works with conventional loans (Fannie Mae HFA Preferred). Purchase price and income limits apply.

Both TDHCA and TSAHC offer MCCs, a federal tax credit for first-time buyers and veterans. TSAHC's MCC income limit stayed at 115% of area median income, so if you combine an MCC with assistance you must meet the lower limit. TDHCA charges a $400 issuance fee. I am not a lawyer or tax advisor; for how the credit affects your taxes, talk to a CPA, and for legal questions, The Angarita Law Firm.

FHA allows 3.5% down with a credit score of 580 or higher. The 2026 FHA loan limit for a single-family home in Collin and Denton counties is $563,500. FHA charges 1.75% upfront mortgage insurance and, with less than 10% down, an annual premium (0.55% on most loans at this size) for the life of the loan.

Conventional 97, Fannie Mae HomeReady and Freddie Mac Home Possible and HomeOne allow 3% down, generally with a 620 minimum credit score (660 for Home Possible). HomeReady and Home Possible cap income at 80% of area median income, and HomeOne requires at least one first-time buyer. Private mortgage insurance applies with less than 20% down. The 2026 conforming loan limit is $832,750.

VA loans allow no down payment for eligible veterans and service members. USDA loans also allow 0% down, but only in eligible rural areas, which generally does not include Frisco.

TDHCA and the City of Frisco program both require approved homebuyer education, and it helps you compare loans. Do it before you shop so it does not delay your closing.

Assistance comes through approved lenders, so ask any lender up front whether they offer TSAHC and TDHCA programs. Compare loan estimates side by side, including any builder lender offers if you are buying new.

Use the worked example above with your price, then confirm the tax rate for the exact address. Frisco spans two counties and four school districts, so the rate changes by address.

Look at the Frisco homes under $500K guide and the Frisco townhomes and condos guide. Check program price limits, such as $563,500 for the City of Frisco program, before you tour.

With most 2026 sales closing under list, ask for seller credits toward closing costs or a rate buydown. Use your option period for a full inspection.

After you move in, apply with the Collin or Denton appraisal district. The application is free, and it is what produces the lower tax figure in the example.